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2015 (4) TMI 1074 - AT - CustomsImposition of penalty - Rejection of declared value - Revenue rejected the declared value of imported goods and enhanced it by referring Rule 9 of the Customs Valuation Rules, 2007 by solely based on the DRI's letter dated 6.1.2009, without comparing the it with any identical/similar goods imported at or about the same time - Held that: Revenue's rejection of declared value is not legal and proper and also quantum of penalty imposed in the adjudication order, is in the higher side. As appellant had incurred demurrage and other shipping charges for delayed adjudication, which has a direct bearing on the profitability in the appellant's firm; and also the appellant is a first time importer of the goods therefore, the interest of justice weighs in favour of reduction in the quantum of penalty confirmed in the adjudication order. - Decided in favour of appellant
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